President Bola Tinubu claims that the reforms he has implemented over the last two years are setting the groundwork for a more affluent future for Nigeria.
Tinubu, who was elected President on May 29, 2023, declared that his Renewed Hope Agenda aimed to cut living costs, promote economic justice, and create a business-friendly economy that attracts investment and benefits all Nigerians.
“We are laying the foundation for a more sustainable future… Together, we are creating a system where prosperity is shared, and no one is left behind,” Tinubu stated in his nationwide address to mark his second year in office today.
Tinubu described these efforts as building blocks for a “more sustainable future” and thanked Nigerians for their unwavering support.
Commending Nigerians for their steadfastness through two turbulent years, he said their support had been vital to confronting inherited challenges head-on.
“Fellow Nigerians, as we mark the second anniversary of our administration, I salute your resilience and undaunted spirit.
“While my administration has implemented the reforms to restore and reinvigorate our economy and strengthen our social fabric as a strong and united country, I must thank my fellow citizens for your unrelenting support and belief in the grand vision we share to uplift our nation and renew our collective hopes and aspirations.
“Two years ago, you entrusted me with the sacred responsibility to lead our nation at a time of historic challenges.
“Together, we have faced these headwinds with courage and determination. The economic and general situation of the country I inherited required that we redirect the country’s affairs with a bold and new vision.
“I immediately implemented two necessary policies to stop our country from further drifting into the precipice,” he noted.
The president claimed that in order for the federal government and the other two tiers of government to stay functional and serve the welfare of the people, they must eliminate decades-long fuel subsidies and the fraudulent multiple foreign exchange windows.
“The two were no longer sustainable and have become a chokehold on our nation’s neck, strangling our nation’s future,” he argued.
He reminded Nigerians that the administration is at the halfway mark of its mandate and reaffirmed that the economic turnaround is well underway.
“Today, May 29, 2025, offers our administration the opportunity to share again how far we have gone and our progress in steering our country along the critical path of socio-economic development.
“When we embarked on this journey, propelled by a burst of hope and abiding faith in Nigeria’s unity and progress, I made a pledge before God and fellow countrymen and women to confront Nigeria’s challenges head-on by rebuilding trust, fostering prosperity, and restoring our nation’s economic health.
“Today, I proudly affirm that our economic reforms are working. We are on course to building a greater, more economically stable nation,” said Tinubu.
He elucidated that under the Renewed Hope Agenda, his administration remained open about its drive to tackle economic instability, improve security nationwide, reduce corruption, reform governance, and lift our people out of poverty.
“We have remained honest by acknowledging some of the difficulties experienced by our compatriots and families.
“We do not take your patience for granted. I must restate that the only alternative to the reforms our administration initiated was a fiscal crisis that would have bred runaway inflation, external debt default, crippling fuel shortages, a plunging Naira, and an economy in a free-fall,” he said.
Tinubu outlined key statistics indicating that inflation is declining, oil investments are increasing, and fiscal performance is stronger than at any time in recent memory.
Despite ongoing living-cost pressures, the president admitted that the economy is clearly improving.
He saw that inflation is decreasing as the price of rice and other basic items falls.
According to him, the oil and gas industry has revived, with rig activity more than quadrupling from 2021 levels and new expenditures topping $8 billion.
He said that these benefits had steadied the economy, making it better positioned for future growth and more resilient to external shocks.
He unveiled a new strategic framework to steer Nigeria’s long-term fiscal health and equity.
“There is a deliberate focus on our youth, who a friendlier tax environment for digital jobs and remote work will empower.
“Through export incentives, Nigerian businesses will be able to compete globally.
“Our National Single Window project streamlines international trade, reduces delays, and enhances Nigeria’s competitiveness,” said the president.
Speaking on food security, Tinubu announced that his administration has rolled out large-scale initiatives to raise crop output, support farmers and stabilise prices, backed by thousands of new tractors, tools and fertiliser supplies.
According to Tinubu, nationwide, hundreds of road projects—among them the Lagos–Calabar Coastal Highway, the Abuja–Kaduna–Zaria–Kano dual carriageway and the Second Niger Bridge link roads—are under construction or rehabilitation, the president said, adding that power generation is being lifted through grid upgrades and investment in off-grid solar.
Internationally, Tinubu stated the forthcoming Motherland Festival will showcase Nigeria’s culture and creative economy, while new diaspora-focused instruments—such as the diaspora bond and non-resident BVN—aim to make it easier for Nigerians abroad to invest in the country’s future.
Tinubu concluded, “Once again, I acknowledge the sacrifices many Nigerians have made and continue to make as we reposition our country, not just for today but for generations yet unborn.
“Our journey is not over, but our direction is clear. So is our resolve to tackle emerging challenges. By the grace of God, we are confident that the worst is behind us.
“The real impact of our governance objectives is beginning to take hold. The future is bright, and together, we will build a stronger, more inclusive Nigeria that we can all be proud of. Thank you all, and may God continue to bless the Federal Republic of Nigeria.”
